May 5th Xiao Yue Evening Big Cake (Bitcoin) Analysis

After this wave of Big Cake stabilizes around 80,500, it has steadily surged upward, reaching a high near 81,329. The short-term increase is already considerable, and bullish momentum shows clear signs of weakening at high levels. After topping out, the price quickly pulled back, indicating that sell pressure above has started to concentrate and release, and there is a stronger willingness to realize profits—meaning the continued push upward in the short term has already been discounted.

Although the current price is still trading at high levels, multiple attempts to break the previous high have failed to do so effectively, and signals of sluggish price action at high levels have already appeared. At the same time, support below is not strong either; once incremental capital can’t keep up, it’s easy for the price to fall back from high levels and enter a correction phase. Overall, the momentum behind this up move has been largely consumed. Going forward, there is insufficient drive to continue pushing higher. Bearish sell pressure is gradually accumulating, and the risk of weakness and pullback in the short term is rising.

Operation Suggestions:
Set up positions in batches in the 81,700-82,200 range,
Targeting the 79,700-80,200 range.
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